is it good time to home buy ?

[raj07]

hi to all ,

i m looking to buy a home for shorm stay in western sydney, just for couple of years and then want to sale that home and going back to original country. is it advisable to buy a home ??? should i get back the good return after few years ???

reply me thanks to all

[The Y-man]

hi to all ,

i m looking to buy a home for shorm stay in western sydney, just for couple of years and then want to sale that home and going back to original country. is it advisable to buy a home ??? should i get back the good return after few years ???

reply me thanks to all

If you are not a resident, you will most likely be limited in what you can buy (i.e. property will be subject to FIRB approval) - and I believe the only reason the FIRB allows you to buy certain properties is that they are the ones which lack local demand (i.e. is higher risk, too high a price etc).

Therefore in a 2 year time frame, I would say there is a good chance your property might be worth less than what you paid for it....

Cheers,

The Y-man

[raj07]

Thank you very much for ur reply

I would like to say that....i m here on Resident Visa and in the next year june 2009 i m going to be a citizen of australia, still are they restricted to buying for any thing ???

thank you for ur reply

If you are not a resident, you will most likely be limited in what you can buy (i.e. property will be subject to FIRB approval) - and I believe the only reason the FIRB allows you to buy certain properties is that they are the ones which lack local demand (i.e. is higher risk, too high a price etc).

Therefore in a 2 year time frame, I would say there is a good chance your property might be worth less than what you paid for it....

Cheers,

The Y-man

[The Y-man]

permanent residents and citizens have no restriction.

Cheers,

The Y-man